Prefab holiday home in Karuizawa to receive heritage listing
A 53-year old holiday home in Karuizawa is to be the first prefab home in Japan to receive a heritage listing.
The Yamasaki-Usui Villa was built in 1963 in Karuizawa - a popular mountain resort area in Nagano Prefecture. The single-storey house is part of Sekisui House’s ‘A-Type’ of prefab homes. These homes revolutionised Japan’s home-building industry in the 1960s. The house remains in largely original condition and is said to be the oldest surviving A-type model in the country.Read more
Tokyo apartment prices showing signs of reaching peak
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in February 2016 was 33,580,000 Yen, up 0.6% from the previous month and up 14.8% from last year. The average building age was 21.9 years.
In the Tokyo metropolitan area, the average price was 46,460,000 Yen, up 0.1% from the previous month and up 16.0% from last year. This is the 20th month in a row to see an increase in prices, although the rate of growth has slowed, indicating that prices could possibly have reached a peak. The average building age was 21.5 years.
Major real estate brokerages are commenting that the recent boom in property prices in central areas has led to many sellers seeking higher and higher prices for their properties. Properties that are overpriced are taking longer to sell and may require discounting, while properties that are priced within market expectations are still seeing strong demand.
In Tokyo’s 23 wards, the average price was 51,620,000 Yen, showing no change from the previous month but up 15.8% from last year. This ends a 19-month streak of month-on-month increases. The average building age was 21.5 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 71,110,000 Yen, down 0.4% from the previous month but up 12.2% from last year. This is the second month in a row to see a decrease in asking prices. The average building age was 20.1 years.Read more
Japan's commercial land prices increase for first time in 8 years
For the first time in 8 years, commercial land prices in Japan saw an increase from the previous year. According to the 2016 ‘chika-koji’ assessed land values released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the nationwide commercial land price increased by 0.9% from 2015.
In the Tokyo metropolitan area, commercial land values increased by 4.1% in 2016, up from a 2.9% increase in 2015.
The increase can be attributed to improving office conditions in city centres, and a surge in construction of hotels to meet the growing number of foreign tourists. Read more
81-yr old building in Kamakura sold to sake brewery
The Kumazawa Brewing Company, a Chigasaki-based sake brewery established in 1873, has purchased the former Kamakura Pumping Station for 96.5 million Yen (approx. 860,000 USD). The seller was Kanagawa Prefecture.Read more
Average apartment rent in February 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,528 Yen/sqm in February, down 1.5% from the previous month and down 3.7% from last year. The share of rental listings in the Tokyo metropolitan area dropped by 6 points from the previous month, which may have contributed to the lower rent. The average apartment size was 59.98 sqm and the average building age was 19.9 years.
In the Tokyo metropolitan area, the average rent was 3,161 Yen/sqm, up 1.1% from the previous month and up 3.0% from last year. The average apartment size was 56.33 sqm and the average building age was 17.7 years.
In Tokyo’s 23 wards, the average rent was 3,309 Yen/sqm, up 0.9% from the previous month and up 3.4% from last year. The average apartment size was 55.75 sqm and the average building age was 17.2 years.Read more
The most expensive homes for sale in Tokyo
Let's take a quick look at the most expensive homes currently advertised for sale in Tokyo:
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| SOLD Location: Minami Aoyama, Minato-ku House: 7-Bedrooms, 4 Bathrooms, 630 sqm (6,779 sq.ft) *A 10 minute walk from Omotesando Station. |